With ongoing euro uncertainty in Italy, financial turmoil in Argentina and Turkey, and potential fiscal risks to demand in Asia, does the Trump administration's focus on trade deals miss the larger macroeconomic picture?

The twists and turns on the route to a U.S.-North Korea summit continue, ongoing political turmoil in Italy rocks the Eurozone, and President Trump imposes steel and aluminum tariffs on the EU, Mexico, and Canada.

Italy’s vote on constitutional reforms, which may determine whether the country can escape its economic doldrums and rescue its ailing banking system, could have consequences for all of Europe, says CFR’s Robert Kahn.